INTEREST RATE CUT EXPECTATIONS
Gold prices rise to over one-month high after US jobs report
"Gold is trading at one-month highs as lower payroll revisions and yet another uptick in the unemployment rate help 'cement' a September rate cut," said Tai Wong, a New York-based independent metals trader.
Budget 2024: Tax cuts and lower rates top developers’ Budget wishlist
Budget Expectations: As the Union Budget 2024 nears, real estate developers eagerly await tax rationalisation and interest rate cuts for financial viability and growth. The CREDAI and Colliers survey underscores the need for GST input tax concessions and lower interest rates to boost project feasibility. Developers anticipate strong demand in Tier I and II cities, with hopes of sustaining momentum in 2024. Expectations include cost management solutions, price increases, and exploring new residential models. Developers and stakeholders look to Budget 2024 for crucial support in driving sector growth.
Oil prices on track for fourth straight week of gains
Oil prices stabilized in Asian trade, set for a fourth week of gains amid strong U.S. summer demand and supply concerns. Brent and WTI prices rose. Russia's Rosneft and Lukoil to cut July exports. Saudi Aramco lowered Asian prices. Sentiment boosted by geopolitical tensions, a 12.2 million barrels draw, potential Fed rate cuts, and the Gaza conflict.
Dollar at three-week lows; pound takes UK election in stride
The US dollar nears three-week lows awaiting payrolls data impact, while the pound remains strong amid UK election expectations. Euro stable pre-French election. Yen rebounds cautiously. Australian dollar near six-month highs. Bitcoin slightly down.
Gold lingers near 2-week high as focus shifts to US payrolls
Gold prices remain steady near a two-week high following weaker US economic data, leading to speculation of potential interest rate cuts. Investors are closely watching Friday's non-farm payrolls data for further guidance. The market awaits further developments amidst the ongoing economic uncertainty.
Brent crude above $87 at highest levels since April
Brent crude prices reach a 3-month high at $87 due to a significant drop in US inventories. Market sees gains supported by dollar weakness and improved US fuel demand outlook. However, economic worries persist with unexpected German industrial orders decline and rise in US jobless claims.
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Is Wall Street factoring in a rate cut by year-end? Geoff Dennis answers
I think July is a tough call now, although the payroll numbers on Friday will give us another clue on that. But I think they will cut twice before the end of the year, probably in September and December.
Gold inches up after weak data fuels US rate cut bets
Dramatic gold price surge expected amid cautious Fed approach and weaker employment reports, signaling potential economic challenges ahead.
Sensational Index 80K: With Budget on horizon, bulls hit new milestone in T20 style
Equity indices soar as Sensex hits 80,000 fueled by banking stocks. Market anticipates rate cut, global support, and foreign investment. Earnings rise expected with stock rotation amidst market surge.
S&P 500, Nasdaq post record closing highs as data stokes hope for rate cut
Exciting market dynamics unfold as Paramount Global, National Amusements, and First Foundation make significant moves, shaping investor sentiment and market trends.
Gold flat as investors focus on Fed minutes
Gold prices await Fed's rate decision influenced by inflation data, NFP report. China's services slow, impacting metals. Bullion prices steady amid election uncertainty. Analyst Tim Waterer forecasts rate cuts using CME FedWatch Tool.
Fed chief Jerome Powell says more evidence of falling inflation needed before rate cuts
Federal Reserve Chair Jerome Powell stated the U.S. central bank requires more data before reducing interest rates to confirm the recent lower inflation is accurate. May data showed no increase in the Fed’s preferred inflation measure, with the 12-month rate decreasing to 2.6%, still above the 2% target.
Gold holds ground on US rate-cut expectations
Amidst shifting economic indicators, precious metal prices reflect market uncertainties and investor sentiments influenced by global economic trends and policy decisions. The intricate balance between supply, demand, and macroeconomic factors drives strategic investment choices in the ever-changing financial landscape.
Oil inches higher on summer demand outlook
Oil prices rose on supply deficit forecasts and OPEC+ cuts amid global economic challenges. Traders are cautious about rising non-OPEC+ output. Monitoring includes China's oil demand, the Atlantic hurricane season, and the impact of Hurricane Beryl.
Gold prices heads for quarterly rise; spotlight on inflation data
In the world of gold investment, tracking prices, inflation data, and the Federal Reserve's stance is key. Market dynamics shift based on factors like GDP estimates, equipment spending, and spot silver prices. Understanding these nuances is crucial for making informed investment decisions in a constantly evolving economic environment.
Gold prices inch lower as focus turns to US inflation data
Gold prices impacted by Japan Chain Store Sales YY for May and upcoming US Consumer Confidence in June.
Asian stocks rise on tech rally, Fed rate cut wagers
Asian shares rose to a three-week high driven by tech stock rally as the dollar struggled post soft U.S. retail sales data, hinting at potential Fed rate cuts.
Pakistan's central bank cuts key rate as expected to boost economy
Pakistan's central bank lowered its key interest rate by 150 basis points to 20.5%, the first reduction in nearly four years, as part of efforts to stimulate growth amidst declining retail inflation. The move, preceding Pakistan's annual budget, follows a decrease in inflation to 11.8% in May. Economic reforms under an IMF bailout have been implemented to stabilise the economy, with expectations of further rate reductions.
US Fed likely to remain on pause and pare back rate cut expectations
The US Federal Reserve is likely to keep interest rates unchanged this week, but could pare back the number of cuts it has penciled in for this year, as policymakers digest a mixed bag of economic data. But with the data still painting a mixed picture, he is unlikely to rock the boat too much this week, according to Oxford Economics chief US economist Ryan Sweet.
Gold tumbles on solid US nonfarm payroll report, China slowing down gold buying
Gold prices rose on rate cut expectations but fell due to a strong US nonfarm payroll report. The Dollar Index strengthened. Traders shifted rate cut expectations. Market awaits the US Federal Reserve's decision. China's Central Bank paused gold buying due to high prices.
RBI policy on expected lines, upgrading GDP growth estimate reposes confidence: Bankers
Bankers welcomed the Reserve Bank of India's decision to maintain interest rates, as it was in line with expectations, with an upward revision of the growth estimate. The move, including the unchanged repo rate, was seen as positive for the economy. The revised GDP growth forecast for FY25 instilled confidence in the central bank's outlook. Industry leaders praised the regulatory measures and highlighted the importance of collaboration for financial sector growth.
Oil dips on deflated US interest rate cut expectations, OPEC+ decision
Oil prices fell for a third consecutive week as investors considered OPEC+ reassurances and the latest U.S. jobs data impacting Federal Reserve interest rate decisions.
Expect repo rate cut only in October RBI policy meeting: SBI Research
The report, authored by Soumya Kanti Ghosh, SBI's Group Chief Economic Adviser, expects first repo rate cut in October meeting. The repo rate is the rate of interest at which the RBI lends to other banks.
Oil rises on strengthening Fed rate cut expectations
Oil prices rose in Asian trading on rising expectations of a Federal Reserve interest rate cut in September and a rebound from a selloff linked to growing U.S. inventories and an OPEC+ supply increase.
RBI unlikely to cut rates; Sustained vigil on inflation expected
RBI to hold rates on strong GDP growth. Inflation within target range but food inflation high. RBI cautious on weather impact.
Dollar ebbs as markets await key global inflation reports
The dollar weakened on Tuesday awaiting key inflation data for global interest rate guidance. Euro held steady despite dovish ECB comments. GBP and NZD gained, with focus on US PCE price index report on Friday.
Gold prices back in limelight after mild correction
Gold prices have surged both globally and domestically, nearing the significant psychological level of $2,500 per ounce on the London spot market, representing a year-to-date increase of almost 17%. This momentum is reflected in the Indian market as well, with MCX futures prices exceeding ₹74,000 per ten grams.
Dollar down on profit taking but upbeat outlook remains
The dollar slipped against major currencies on Friday, but remains well-placed for further advances supported by strong U.S. economic data. Markets dial back expectations for interest rate cuts as U.S. business activity accelerates and input prices surge, prompting a debate among policymakers on inflation control.
Dollar set for weekly gain as rate cut bets ebb
The dollar is on track for its largest weekly gain in a month and a half, supported by strong U.S. economic data and a hawkish stance in Federal Reserve minutes.
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